Forrester: Andy Hoar

Mastering Omnichannel B2B Customer Engagement Andy Hoar, Principal Analyst

Gameplan Conference -- Dallas October 22, 2015

© 2015 Forrester Research, Inc. Reproduction Prohibited 2

Agenda

› Description of the research

› Highlights and findings

› Key takeaways and recommendations


New Research


Large scale B2B survey

(Numbers may not total 100% due to rounding) Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015


Key Findings › Business buyers are increasingly adopting digital touchpoints.

› B2B buyers have high expectations for personalization and exceptional service across the buyer journey

› B2B sellers are not prepared to deliver a seamless omnichannel experience.

› World-class customer engagement requires the right omnichannel strategy, partner ecosystem, and technology infrastructure.


Source: March 28, 2013, “The New Physics Of Lead-To-Revenue Management” Forrester report

Increasingly complex buyer journey


Rising expectations


98% Research purchases online before buying offline

Base: 750 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015


Buyers increasingly researching online

“Of those work-related purchases made OFFLINE, what percentage are typically researched ONLINE as part of the process?”

22%

24%

29%

18%

7%

1%

21%

21%

24%

19%

12%

2%

75% or more

50-74%

25-49%

11-24%

1-10%

0

20152014*

Base: 696 business decision-makers with more than 1,000 employees (500+ in Europe) in North America and Europe *Base: 930 business decision-makers with more than 1,000 employees (500+ in Europe) in North America and Europe Source: A commissioned study conducted by Forrester Consulting on behalf of SAP hybris and Accenture Interactive, September 2015 *Source: A commissioned study conducted by Forrester Consulting on behalf of SAP hybris and Accenture Interactive, August 2014


Buyers use non-traditional sites for research

Search engines 26%

Consumer marketplaces

33%

Business marketplaces

17%

Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015


Buyers are simply buying more online “How have your B2B online work-related purchases changed from 2014 to 2015?”


63% have made more purchases online

53% have increased their avg. purchase size

65% have increased total spend on work purchases



Customers would buy again from the same supplier…

19%

16%

If they have transparent prices and product details

If they track my purchasing habits across different channels to givepersonalized recommendations.

If they have the broadest selection of products or services

If they have consistently lower prices

If they offer multiple payment options

If they offer omnichannel capabilities

If they have excellent customer service and post-purchase support

Rank 1 Rank 2 Rank 3 Rank 4 Rank 5



The B2B seller story


Top 4 drivers behind omnichannel investment

To meet customer expectations

(74%)

To provide a consistent experience

across channels (65%)

The omnichannel customer has a higher

lifetime value (64%)

To drive additional efficiencies and cost

savings (60%)

$


#1 Challenge: Difficulty sharing customer data and analytics between channels, countries, and locations


Most data only available in some channels


Customer nameLevels of client satisfaction

Customers’ shipping and billing addresses Past purchase history

Information about when products were deliveredService and support issues our customers have had

Prior sales/marketing contactsCustomers’ payment options/habits

Products/services researchedClients’ custom pricing and catalog items

Information about clients’ businesses

SOME ALL NONE

50%


Sellers face challenges across all phases of the customer journey

Percent that indicated marketing and sales teams are challenged or very challenged when creating a personalized experience at each stage

ENGAGE

USE BUY

EXPLORE

DISCOVER

ASK

Prospect evaluate options

Prospect researches short list

Prospect purchases product or service

Customers share their experiences

Customer begins to use product or service

65%

61%

61%

57%

57%


Adopt a new mindset


Exist in a real-time operating environment


Invest in technologies that support the customer journey

Source: June 17, 2015, “Accelerate Digital Business With A BT Agenda,” Forrester report


Enlist agile processes for analysis and refinement

Start small with a platform

to extend.

Analyze results to monitor performance and

optimize outcomes

Design the mobile

engagement.

Engineer your platforms, processes, and

people for mobile.

Identify the mobile moments

and context.

Source: The Mobile Mind Shift, Forrester Research


Use partners to rally around digital and customer experience excellence

87% of B2B organizations utilize

third-party solution providers for at least one component

of their digital strategy

Source: A commissioned study conducted by Forrester Consulting on behalf of Accenture Interactive *Source: Forrester’s Q1 2014 Global eBusiness And Channel Strategy Professional Online Survey

Top 5 initiatives* 1. Global market expansion consulting 2. System/channel integration 3. eBusiness technology selection 4. Quality Assurance (QA) 5. Post-implementation application

development enhancements


Key Takeaways


Prioritize developing and delivering market-leading personalization

capabilities


Constantly measure efforts and refine offerings


Embrace an omnichannel strategy

Build upon a proven and powerful platform


Engage with experienced ecosystem partners

forrester.com

Thank you

Andy Hoar Principal Analyst [email protected] @andyhoar1

mailto:[email protected]

Data & Analytics

Forrester: Andy Hoar